petroleumworld

World

Peru

Trinidad &
Tobago

ISSUES....
Inside, confidential, off the record

Put up or shut up!

Sanchez Galan, the chairman of Spains's Iberdrola is sick and tire of France's EDF rumors on its intentions for the firm. "What we say is: make an offer or shut up!" said Sanchez Galan. "We are standing before unfair competition because these rumours could affect our activities, our clients," he said. The Wall Street Journal has reported that EDF and Spanish builder ACS were planning to join forces to take over Iberdrola and Spanish power company Union Fenosa in massive deals worth 100 billion dollars (63.4 billion euros).The French government holds 85 percent of EDF."We're open to a deal if it creates value for shareholders. If anyone wants to bid for Iberdrola let them do it and we will study it," Sanchez Galan said.

Petroleumworld News 04/16/08

ISSUES.... Is an independent journalist effort from Petroleumworld, on Inside, Confidential
and Off The Record Information, its views are not necessarily those of Petroleumworld

Legal information: Copyright/Disclaimer

Copyright© 2008 respective author or news agency. All rights reserved.
We welcome the use of Petroleumworld™ stories by anyone provided it mentions Petroleumworld.com as the source. Other stories you have to get authorization by its authors.

Send this story to a friend

Your feedback is important to us!

We invite all our readers to share with us
their views and comments about this article.

Write to editor@petroleumworld.com

Any question or suggestions, please write to:
editor@petroleumworld.com

3

Best Viewed with IE 5.01+
Windows NT 4.0, '95, '98 and ME +/ 800x600 pixels

TOP

This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/us code/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from Petroleumworld or the copyright owner of the material.